U.S. stocks rebound on hopes for policy responses #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30384036?utm_source=category&utm_medium=internal_referral

U.S. stocks rebound on hopes for policy responses

Mar 13. 2020
By Syndication Washington Post, Bloomberg · Jeremy Herron, Katherine Greifeld · BUSINESS, US-GLOBAL-MARKETS

U.S. stocks rebounded from the worst day since 1987 amid signs policy makers around the world are taking action to stave off the economic fallout from the coronavirus. Oil jumped.

The S&P 500 traded about 3% higher after plunging 9.5% on Thursday in the biggest rout since 1987 and fifth-worst on record. European equities jumped 7%, the dollar strengthened and stress in the credit markets showed some signs of easing.

After days of no or inadequate action, policy prescriptions came fast Friday, with reports Congress is near a deal on a relief bill. The European Union prepared to suspend government spending rules, and regulators in Italy and Spain banned short-selling on some stocks. China’s central bank said it would pump in $79 billion to bolster the economy.

The moves buoyed market sentiment battered by the spread of the virus and a spate of travel restrictions, school closings and event cancellations. But bears cautioned that the rebound was preordained and may not stick.

After each of the 10 worst days in S&P 500 history, the average return has been a gain of 2.94%. The Cboe Volatility Index dropped after its fourth-highest close on record. Such spikes in the VIX have always been followed by sharp rallies.

Other markets remained exceptionally volatile. Ten-year Treasuries swung from earlier gains to losses. Sovereign bonds sank across most of Europe for a second day amid criticism of European Central Bank measures to address the pandemic. Oil pushed higher and the dollar headed for its best week since 2016.

“It’s possible we’re just recovering a portion of yesterday’s losses on the idea that there were no terrible headlines this morning,” said Susquehanna Financial Group strategist Christopher Jacobsen. “The market had priced in the extreme dour outcome and the lack of newsflow this morning to confirm that worst-case scenario resulted in just a bit of a relief rally.”

Even with Friday’s gains, global equities are heading for their worst week since 2008 as investors price in a severely weaker economic outlook as cases continue to grow across the world and restrictions on people and businesses crush sentiment. The Bank of Japan on Friday followed an earlier move from the Federal Reserve to inject liquidity.

“It seems that the more severe things become in the short term, the more extreme will be the fiscal and monetary policy response,” Mark Dowding, chief investment officer at BlueBay Asset Management, wrote to investors. “It is very conceivable that the full boost from such measures will only really kick in just as activity rebounds, with pent up demand leading to a turbo-charged recovery in the second half of the year in the wake of an economic contraction in the context of the first half.”

These are the main moves in markets:

Stocks:

– The S&P 500 Index jumped 3% as of 9:54 a.m. in New York.

– The Stoxx Europe 600 Index soared 6.6%.

– The MSCI Asia Pacific Index dipped 2.2%.

– The MSCI All-Country World Index climbed 1.2%.

Currencies:

– The Bloomberg Dollar Spot Index increased 0.4%.

– The euro decreased 0.3% to $1.1149.

– The British pound declined 0.7% to $1.2484.

– The Japanese yen weakened 2.5% to 107.28 per dollar.

– The Mexican peso strengthened 2.5% to 21.403 per dollar.

Bonds:

– The yield on 10-year Treasuries gained 14 basis points to 0.95%.

– Germany’s 10-year yield jumped 16 basis points to -0.59%.

Commodities:

– West Texas Intermediate crude rose 3% to $32.46 a barrel.

– Gold strengthened 0.2% to $1,579.14 an ounce.

Oil heads for worst week since 2008 as price war grips market #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30384035?utm_source=category&utm_medium=internal_referral

Oil heads for worst week since 2008 as price war grips market

Mar 13. 2020
By Syndication Washington Post, Bloomberg · Alex Longley · BUSINESS, US-GLOBAL-MARKETS

Oil is headed for its largest weekly collapse since 2008 as a bitter price war erupted between Saudi Arabia and Russia, and coronavirus contagion cratered demand.

Futures in New York are down 18% this week. The crude surplus may reach a record high by April as the two former OPEC+ allies race to increase production, according to Goldman Sachs. The market’s structure has already returned to a super-contango, indicating a big oversupply.

At the same time, concerns over demand are continuing to grow. Gasoline prices fell by a fifth on Thursday as President Donald Trump issued a travel ban from Europe.

Crude recovered some of this week’s losses on Friday, with equities paring Thursday’s slump. Still, signs of fear abounded, with oil more volatile than during the financial crisis.

The schism between Moscow and Riyadh is hardening with Russian oil producers planning to ramp up production next month, and no plans for a detente with Saudi Arabia. The kingdom said earlier in the week that it would boost output by more than 25% in April, while it sends a flood of crude to Europe, Russia’s tradition market.

“Demand is falling, refining margins are weakening, Saudi crude oil exports are surging: the super-contango is back,” Petromatrix Managing Director Olivier Jakob wrote in a report. “It will be difficult for Saudi Arabia to regain control of the markets.”

Governments and central banks have so far been powerless to stem the coronavirus-driven rout that’s reverberating through financial markets and threatening a global recession. Trump has yet to offer a detailed economic rescue package, while the European Central Bank left interest rates unchanged, although it took steps to boost liquidity.

In the U.S., several independent oil companies have already announced plans to scale back operations amid the flood of cheap crude. The American industry is also encouraging the Trump administration to waive a law that mandates only domestic vessels can be used to transport goods between U.S. ports.

Airbnb launches $1m initiative for world’s most unusual homes #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/biz-moves/30383859?utm_source=category&utm_medium=internal_referral

Airbnb launches $1m initiative for world’s most unusual homes

Mar 11. 2020
The Boot

The Boot
By THE NATION

Airbnb is searching for the world’s wildest home ideas – and has launched a US$1 million fund to make them a reality.

The Unique Airbnb Fund is the company’s first-ever $1 million programme designed to find and help finance the most unconventional and unusual liveable spaces on the planet.

Ten recipients of the Unique Airbnb Fund will be selected by an expert panel of design and style innovators, including Emmy, Tony and GrammyAward-winning actor Billy Porter, Airbnb superhost Kristie Wolfe, of the famed Big Idaho Potato Hotel, and global and cutting-edge architecture firm MVRDV.

Starting today (March 11), design enthusiasts can submit their proposals at www.airbnb.com/uniquefund. All submissions will be scored against criteria based on creativity, feasibility, sustainability and social good.

Inspired by the entrepreneurial spirit of the company’s three co-founders, the Unique Airbnb Fund is meant to enable anyone with an extraordinary house idea to design and build it into a reality, and share it with travelers all over the world.

“The only thing better than pushing the boundaries of style, is empowering others to do the same,” says style icon Billy Porter. “I’m thrilled to join Airbnb in this global search for the most outrageous, spectacular home ideas ever. I can’t wait to see these concepts developed by design lovers from around the world firsthand.”

“The Unique Airbnb Fund is a great initiative that makes hospitality exciting. It will empower people to create new spaces with daring, imaginative and fantastic architecture,” said MVRDV partner Fokke Moerel. “Personal wunderkammers will be created for guests to appreciate and be inspired by.”

Searches for unexpected and unique spaces – such as shepherds huts, windmills and tiny houses – have increased by nearly 70 per cent over last year on Airbnb, based on internal Airbnb data measuring year-over-year growth of searches for unique listings as of February 2020 vs 2019.

Some of the most booked listings of all time include domes, RVs, treehouses, and yurts across the world, based on internal Airbnb data measuring the most booked unique listings as of February 2020.

Applicants can draw inspiration from a plethora of unconventional Airbnb stays, including:

An Elephant-Sized Stay on the Jersey Shore (Margate City, New Jersey, USA)

The Boot – Fairytale Accommodation (Nelson, New Zealand)

Big Idaho Potato Hotel (Boise, Idaho, USA)

Camaya Bali Suboya – Magical Bamboo House (Bali, Indonesia),

Sheep Wagon at Shash Dine (Page, Arizona, USA)

Beautiful Dome with Mountain Views (Rio Negro, Argentina)

UFO Futuro styled Flying Saucer (Redberth, UK)

Cabane Spa Zen (Raray, France)

Cabana Floripa (Santa Catarina, Brazil).

A chance to enter the Unique Airbnb Fund is now open until 10:59am (Thai Time) on April 16, 2020. The ten winners will be selected by the panel of judges mentioned above by May 15, 2020.

For more information, see the Official Rules at www.airbnb.com/d/unique_rules.

Apollo

Potato

Altar

Bamboo

Spaceship

Wagon

AIS gains GSMA certification on 5G service #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/biz-moves/30383759?utm_source=category&utm_medium=internal_referral

AIS gains GSMA certification on 5G service

Mar 10. 2020
(GSMA website)

(GSMA website)
By THE NATION

GSMA, the association of telecommunications network service providers with more than 800 members worldwide, has certified Advanced Info Service (AIS) as being the first and only 5G network operator in Thailand, AIS chief consumer business officer Pratthana Leelapanang said today (March 10).

This makes Thailand the first country in Southeast Asia to successfully provide 5G service on mobile phones, he said.

AIS paid for the first installment of 2600 MHz spectrum licences on February 21 and received a licence to use the 2600 MHz frequency to provide 5G services officially as the first and only operator in the industry, Pratthana said.

According to him, on the same day and only half an hour after receiving the licence, AIS switched on its 5G network in all regions across the country.

Pratthana said AIS is joining forces with the government and industry to use 5G to support various work including robots that can help the public sector deal with Covid-19, testing the use of 5G in cargo transportation and controlling cranes to lift containers remotely at Laem Chabang’s Hutchison Ports in Sriracha district, Chon Buri.

AIS is also the first to roll out a 5G International Roaming service, beginning with Swisscom in Switzerland, Etisalat in the United Arab Emirates, and soon with China Unicom in China and SK Telecom in South Korea, he added.

Overcoming challenges to sculpt what the mind can see #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/biz-moves/30383746?utm_source=category&utm_medium=internal_referral

Overcoming challenges to sculpt what the mind can see

Mar 10. 2020
Art is a universal medium of expression that can unite individuals despite their differences. This notion is reflected at the UOB Please Touch workshops conducted by UOB (Thai) employees and representatives from social enterprise Klongdinsor Company to help people with visual impairments appreciate, experience and create art.

Now in its fifth year, the UOB Please Touch programme embraces a multi-sensory approach to help people with visual impairments that are aged between10 and 70 appreciate and create art. During the last workshop which focused on sculpting techniques, art professors and UOB (Thai) volunteers helped participants to apply modelling and carving techniques to make pottery and soap sculptures out of natural ingredients such as coffee powder, charcoal, turmeric, black sesame seeds, safflower and aroma oil.

Sanchai Apisaksirikul, Managing Director and Country Head of Finance and Corporate Services at UOB (Thai), said, “The UOB Please Touch programme enables people with visual impairments to tear down a wall of darkness and to overcome the boundaries set by their physical challenges. During the workshops, we saw the happiness they experienced from their cheerful expressions and creative energy. Not only does the art of sculpture bring joy but also helps build a positive attitude towards living life.”

“UOB (Thai) believes that art plays a vital role in society and should be accessible to all. The UOB Please Touch programme is one of the ways in which we demonstrate our support for the community, helping to open minds and hearts through art, children and education.”

MEA deploys measures to prevent Covid-19 from spreading #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/biz-moves/30383684?utm_source=category&utm_medium=internal_referral

MEA deploys measures to prevent Covid-19 from spreading

Mar 09. 2020
By THE NATION

The Metropolitan Electricity Authority (MEA) has employed measures to prevent the spreading of the new coronavirus, or Covid-19, at the MEA head and branch offices.

Phasuk Sampunnachote, director of organisation relations, said that the MEA is concerned about the safety of its staff and customers who come to its facilities to register for services or pay for electricity bills. “We have installed thermoscanners at all entrances to check if anyone has a fever,” she said. “Furthermore, we have hired professional cleaning staff to scrub down our buildings with disinfectants both at customer service areas and offices to prevent the spread of Covid-19 and other germs.”

Phasuk further added that the MEA has ordered all staff to strictly follow the announcements and advices from Ministry of Public Health, as well as publicised general knowledge on Covid-19 and how to prevent oneself from infection via the MEA’s public relation channels both traditional and online.

“The three key steps to prevent Covid-19 spreading are: Avoid staying in crowded areas; avoid making contact with those displaying respiratory symptoms; and take care of hygiene by regularly washing your hands and wear fabric face mask,” she added.

“As for those who have just come back from countries with high risk of infection, please follow the regulations set by the Ministry of Public Health, which include self-quarantine in your residence for at least 14 days,” added Phasuk.

Thai AirAsia X suspends Japan, S Korea flights #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30384029?utm_source=category&utm_medium=internal_referral

Thai AirAsia X suspends Japan, S Korea flights

Mar 13. 2020
By THE NATION

Thai AirAsia X is suspending flights between Bangkok and Tokyo, Osaka, Sapporo, Nagoya and Fukuoka in Japan from March 16 to June 16 and between Bangkok and Seoul-Incheon from March 17 to 28 in response to the Covid-19 outbreak.

Affected customers can:

• Choose a new date on the same route on or before October 16 at no additional cost, subject to seat availability

• Retain the value of their booking in a credit account linked to their BIG member account

• Obtain a full refund

These options are applicable only for direct online bookings made via airasia.com. For other types of bookings, such as through travel agents, customers should seek further assistance there.

Affected customers will be notified directly via email and SMS.

To check eligibility and learn how to submit a request, refer to the Covid-19 Refund Request Guide.

AirAsia is closely monitoring the virus situation and reserves the right to announce further policies accordingly.

Cancellations hit Trump’s hotels and clubs amid coronavirus outbreak #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30383975?utm_source=category&utm_medium=internal_referral

Cancellations hit Trump’s hotels and clubs amid coronavirus outbreak

Mar 13. 2020
File photo of Trump Hotel /Syndication Washington Post

File photo of Trump Hotel /Syndication Washington Post
By The Washington Post · Joshua Partlow, David A. Fahrenthold, Jonathan O’Connell · NATIONAL, BUSINESS

President Donald Trump’s family business, which owns and operates hotels and golf courses, faced a rapidly deteriorating commercial outlook Thursday as it became caught up in the wave of cancellations across the tourism industry as a result of the coronavirus.

The company also learned it had hosted its first confirmed coronavirus case: a Brazilian official who spent time with President Trump at his Mar-a-Lago Club in Florida last week.

As of Thursday evening, the Trump Organization had not changed its public posture – or outlined what measures it is taking to protect club members and guests – as the virus has spread more widely across the country, including to all nine states and the District of Columbia where the company operates in the United States.

President Trump’s decision to restrict travel from Europe did not apply to the United Kingdom and Ireland – countries where he happens to own three golf courses.

The Trump Organization is still owned by President Trump but is run by his adult sons. The company did not respond to requests for comment about how it was addressing the coronavirus.

The broader U.S. hotel industry has taken a sharp hit since the beginning of March. The industry watchdog STR reported that – during the first week of March – occupancy across U.S. hotels fell 7 percent from the same time a year earlier, and revenue per room fell even further, by 11 percent.

“This is likely to get a little worse before it gets better,” said Jan Freitag, a vice president at STR.

Event cancellations have already begun to affect the company: a group of Texas bankers called off a March 22 reception at the Trump International Hotel Washington D.C. as part of coronavirus precautions. And a convention for the auto-repair industry now won’t be held at Trump’s Doral resort in Miami.

At Mar-a-Lago, one person familiar with the club’s operations said that a multiday, lavish wedding had been postponed because of coronavirus fears, and a brunch had been called off.

These cancellations came amid news that a Brazilian official – who had met with Trump and Vice President Mike Pence on Saturday at Mar-a-Lago – had tested positive for coronavirus.

Several hours after the Brazilian official’s positive test was announced, there had been no guidance from the club about how to react, the person said.

“I was there all weekend,” said the person, who spoke on the condition of anonymity to discuss the club’s private operations. “Now, I’m concerned.”

But the club appeared to be allowing other events to proceed.

Mar-a-Lago this week has been setting up for a massive, 700-person charity luncheon – the “Wine, Women and Shoes” bash to raise money for Big Dog Ranch Rescue, an animal shelter. The chairs of the event include Trump’s daughter-in-law, Lara Lea Trump, and the daughter of Trump’s former presidential rival, Georgina Bloomberg.

The organizers said Thursday they planned to proceed despite the Brazilian official’s positive test.

“Most events have continued here in Palm Beach with strong attendance and no known community transmission of COVID-19 in Palm Beach county to date,” charity spokesman Chase Scott wrote in an email. “Additionally we will offer hand sanitizers, washing stations and, upon check-in, encourage all guests to refrain from shaking hands, hugging or kissing during the event as precautionary measures.”

An outdoor car show planned for March 20 at Mar-a-Lago, and a “Spring Fling” charity luncheon planned on March 29 at the club are also going on as scheduled, organizers said.

On Wednesday, before the Brazilian official’s positive test, the club had sent an email to members reassuring them that it would remain “your home away from home.” There would be additional hand sanitizer and heavy cleaning, but no closures, the club said then.

“We will continue to operate without disruption,” club manager Bernd Lembcke wrote, according to a copy of the email obtained by The Washington Post.

On Thursday, Florida Gov. Ron DeSantis, a Republican, recommended residents “strongly consider limiting or postponing mass gatherings in the state of Florida.”

In both Chicago and New York, small investors in the Trump hotels have received letters in recent days saying that the hotels were being given extra cleaning, and that hand sanitizers had been put out in public areas. The Trump Organization warned investors in Chicago that the coronavirus was depressing tourism across the city.

In contrast to some of Trump’s own comments – which have downplayed the danger of the virus – the Trump hotel in Chicago said it was taking significant measures: giving managers special training in hygiene, increasing the frequency of cleanings, and adding hand-sanitizer dispensers throughout the hotel’s public areas.

“Our cleaning procedures and policies at the Chicago property are meticulously followed and executed by our staff and vendors each day,” the Trump Chicago hotel’s management wrote, according to a copy of the letter obtained by The Washington Post.

Freitag,of the hotel industry watchdog group, said that hotels catering to conferences and meetings would be especially hard-hit, because those cancellations wipe out a lot of business at once, and because the complex logistics of large conferences make them difficult to postpone. They are simply canceled instead.

“The demand for meetings that is going away today will not return” for an extended time, Freitag said.

Buffett bet that infuriated Icahn is hit hard by oil crash #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30383964?utm_source=category&utm_medium=internal_referral

Buffett bet that infuriated Icahn is hit hard by oil crash

Mar 12. 2020
Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., speaks to media Omaha, Neb., on May 3, 2019. MUST CREDIT: Bloomberg photo by Houston Cofield.

Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., speaks to media Omaha, Neb., on May 3, 2019. MUST CREDIT: Bloomberg photo by Houston Cofield.
By Syndication Washington Post, Bloomberg · Katherine Chiglinsky, Kevin Crowley · BUSINESS, US-GLOBAL-MARKETS

It had all the trappings of a classic Warren Buffett deal. There were the preferred shares created just for him, the warrants giving him an option to buy more common stock and a hefty dividend — 8%, which came to a cool $800 million a year on the $10 billion he plunked down.

On their face, the terms were so favorable for Buffett’s Berkshire Hathaway Inc. — and so onerous for the company, the oil driller Occidental Petroleum Corp. — that fellow billionaire investor Carl Icahn seethed with indignation. It was, he wrote, “like taking candy from a baby.”

But now, some 11 months later, Buffett’s bet on Occidental is suddenly a far cry from the slam dunk that it once appeared. Few large companies, if any, in the U.S. shale patch have been hit harder than Occidental by the collapse in oil prices this week. And while Buffett’s preferred shares don’t trade, the plunge in price on the company’s common stock, down 70% in the last 12 days, and in its benchmark bonds, down 25%, provide clues about the market’s perception of the value of his investment.

The stock dropped 16% to $9.95 Thursday before trading was halted due to reaching a circuit breaker limit. It closed at $58.88 when Buffett invested last April.

For Buffett, the episode marks another setback for one of his key investments, just a year after the Kraft Heinz writedown unleashed turmoil at that business. It also raises questions once again about how he intends to use his massive cash holdings — $128 billion at last blush — with few wholly appealing investment options to choose from.

The $10 billion investment in Occidental, his first major deal in four years, was instrumental in allowing the company to win a bidding war for Anadarko Petroleum Corp. But the transaction is only exacerbating Occidental’s troubles. Previously a steady, diversified oil producer, Occidental is now a heavily indebted shale oil producer highly subject to the whims of crude prices. Buffett himself conceded last year that the success of the deal depended on the vagaries of the oil market.

“The structure of the deal was a classic Berkshire deal,” Cathy Seifert, an analyst at CFRA Research, said. “Again, timing is everything and what a difference a year makes.”

Berkshire didn’t respond to requests for comment.

Things haven’t totally unraveled on Berkshire’s investment yet, of course. For now, in fact, the preferred shares continue to throw off cash — $200 million every quarter — and also rank above the common stock when it comes to liquidation. Berkshire does also hold some common shares, but they totaled just $780 million at the end of the year, equal to only 0.3% of Berkshire’s entire stock portfolio.

Buffett’s record of preferred stock deals have often played out in his favor. He bought stakes in General Electric and Goldman Sachs during the financial crisis. Both of those preferred stakes paid 10% dividends.

But he’s been struggling to find attractive ways to put his near record cash pile to work. While his company has built up a more than $70 billion stock holding in Apple. through the end of 2019, Buffett had failed to find major transactions since his 2016 acquisition of Precision Castparts.

And while the Occidental deal was lauded by analysts at the time, it put Buffett in a notoriously volatile industry. Few predicted, of course, that a split between Russia and its one-time OPEC allies would spark a price war. The ensuing crash in those prices eventually forced Occidental to cut its dividend for the first time in three decades Tuesday. Buffett’s preferred stake was unaffected by the cut, but Berkshire’s common stock holding will feel the ripple effects unless Buffett’s company tweaked that holding since the end of the year.

Cutting capital expenditure by a third and slashing the dividend almost 90% will help drive Occidental’s break-even costs down to the low $30 a barrel range, Chief Executive Officer Vicki Hollub said in a statement Tuesday. The move, and broader stock market gains, helped the company stock surge nearly 15% that day.

But the cut to Occidental’s prized dividend limits payouts to common stockholders, including Icahn, who has been battling the company for months over the Anadarko deal.

“Buffett figuratively took her to the cleaners,” Icahn wrote in July about Buffett’s preferred stock deal. Icahn, an Occidental shareholder, said in February ahead of the oil market crash that the “ill-advised bet” on Anadarko and any slump in oil prices could jeopardize the dividend.

Icahn said late Wednesday that he had increased his stake in Occidental to about 10%, from 2.5% previously, and he renewed his attack on the company’s board. “In other cultures, they would have the dignity to resign or worse,” Icahn said by phone. “In the army, they would be court-martialed, but here they would probably grant themselves bonuses because their stock options have collapsed.”

A representative for Occidental declined to comment on Icahn’s position.

In the short-term at least, the Anadarko deal has come at a major cost to shareholders. Occidental is down 82% since its interest in Anadarko first became public almost a year ago, compared to a 49% decline in the S&P 500 Energy Index, and a similar decline in oil.

Occidental’s dwindling market value has raised speculation over whether Buffett would ever buy the company outright. While Buffett has the funds, any eventual purchase would depend on his outlook for the oil market and other variables, said David Kass, a professor of finance at the University of Maryland’s Robert H. Smith School of Business.

“It’s certainly well within the $128 billion that Buffett has to spend,” Kass said. “But would the risks far outweigh the expected reward?”

Sumeth stepping down from top THAI post #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30383947?utm_source=category&utm_medium=internal_referral

Sumeth stepping down from top THAI post

Mar 12. 2020
Sumeth Damrongchaitham

Sumeth Damrongchaitham
By THE NATION

Sumeth Damrongchaitham , president of Thai Airways International, has tendered his resignation from the post, effective April 11, said Transport Minister Saksayam Chidchob today (March 12).

The minister said the THAI board had informed him of the move.